Capital Markets Union (CMU)
FEPS, in collaboration with Fundación Alternativas, Bristol Business School of the University of West of England and the Danish Institute for International Studies have set up a research with the aim to contribute, with policy-oriented research, to the on-going debates about the finance-growth nexus in Europe. It builds on the observation that as its core, the Capital Markets Union seeks to address a paradox: a world structurally awash in excess capital that does not make its way into long-term productive investment.
The project will provide a careful, multi-layers analysis of the Capital Markets Union agendas, focusing on three distinctive areas:
- The capacity of market-based finance to channel long-term investment;
- The potential synergies and conflicts between financial markets integration and financial stability, and
- The reform of shadow banking
This project aims to answer the following research questions:
- How can the Capital Market Union (CMU) plans contribute to growth in Europe?
- How will the CMU plans reconcile the potential conflics between financial integration and financial stability?
- How CMU plans impact shadow banking (reform) in Europe?
Dr Daniela Gabor, University of the West of England
Dr Jakob Vestergaard, Danish Institute for International Studies
Research and policy related output
Seminars and Roundtable Discussions
Capital Markets Union Challenges and Risks. Roundtable. May 2015
Light and shade of the banking union and the new european financial architecture. February 2015. Organised by FEPS and Fondazione ItalianiEuropei.
Selected Background Material
Banking Union: a response to Europe’s fragile financial integration dreams? Policy Brief N.3. Gabor, D. (2014)
In the Shadow of Basel. How Competitive Politics Bred the Crisis. Thiemann, M. (2013)